Zomato stock price gains over 2 percent as foreign brokerages remain bullish

The Markets Today in a nutshell

• Domestic benchmark indices ended with decent gains after a volatile session.
• Global cues were positive as investors digested a record rate hike by the European Central Bank and further comments from Federal Reserve Chair Jerome Powell. IT, autos and banks shares were in demand. On the flip side, realty, consumer durables and media shares were under pressure.

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News you could use

?Zomato stock price gains over 2 percent as foreign brokerages remain bullish
Morgan Stanley has an “overweight” rating on the stock. Credit Suisse has an “outperform” call. The company can turn EBITDA breakeven as guided but likely at lower volumes, Credit Suisse said. 

?M&M surpasses TATA Motors in terms of market cap
Shares of Mahindra & Mahindra Ltd has overtaken Tata Motors Ltd in terms of market capitalization to become second most valued auto firm of India. Maruti Suzuki India Ltd remained India’s most valued auto firm with an MCap of Rs 2.66 trillion.
 
?Schneider Electric Infra hits new 52-week high
Shares of Schneider Electric Infra hit a new 52-week high after its board approved enhancing the production capacity of vacuum interrupters and vacuum circuit breakers upto Rs 138 crore by setting up a manufacturing unit in Kolkata.

News from the IPO world?

• Harsha Engineers sets price band at Rs 314-330 a share for 14th September IPO.
• Dhampur Bio Organics Ends flat after listing at Rs. 169 in IPO after demerger.
• More retail plans to go the IPO way for growth.

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